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Bitcoin Price Analysis: BTC/USD $9000 must hold or will be punished

  • Bitcoin price is trading in negative territory, down 1.60% in the second half of the session. 
  • BTC/USD has been cooling for going into three consecutive sessions. 
  • Critical daily resistance should be noted at the psychological $9000 price mark. 
Bitcoin Price Analysis: BTC/USD $9000 must hold or will be punished
Ken ChigboKen ChigboIndependent Analyst

BTC/USD daily chart

The price has been capped by the barrier at $9500, now forcing BTC to cool. 

BTC/USD 60-minute chart

A range-block formation can be observed at $9500 - 9100, containing price action has it narrows for now. 

Spot rate:                9120.90

Relative change:     -1.60.%

High:                        9305.60

Low:                         9078.29

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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